The 10 largest firms in the Oklahoma Index are all in the energy business, although the focus of those firms ranges from drilling to pipelines to utilities to coal mining.
Those state-based companies — Williams, Devon, Continental Resources, Chesapeake, ONEOK and others — have a much more direct impact on our economy through jobs, construction, drilling, philanthropy and all the wider ripples those corporate activities send through the state economy.
While that state index is heading upward, it's not at an all-time high. Energy prices are the trigger that can and have sent it to higher levels.
So when you're checking the Dow to gauge the mood on Wall Street, also check energy prices to get a better sense of conditions along our own Main Street.